In a development that has raised serious questions about transparency and financial disclosures within the police force, Ms. Rashmi Karandikar, a senior IPS officer of 2004-batch Maharashtra cadre currently serving as Superintendent of Police (Administration Officer) in Civil Defence and Home Guard, has come under the scanner of the Mumbai Police Economic Offences Wing (EOW) for failing to disclose a large financial transaction involving her estranged husband.
Also Read: ACB Investigation Looms Over IPS Officer Rashmi Karandikar Amid Husband’s ₹32 Crore Fraud Cases
According to an official from the EOW, Ms. Karandikar did not declare a transfer of Rs. 2.64 crore to her bank account by her estranged husband, Mr. Purushottam Chavan, who is facing multiple charges related to income tax refund fraud and cheating.
Suspicious Financial Transactions Unearthed
The EOW, during its ongoing investigation into financial irregularities involving Mr. Chavan, identified several suspicious transactions between his accounts and those belonging to Ms. Karandikar.
Officials stated that a detailed scrutiny of financial records linked to both individuals revealed the undisclosed transfer of Rs. 2.64 crore to Ms. Karandikar’s account in the financial year 2017-2018.
“EOW analysed documents Karandikar had submitted while declaring her assets and discovered that Rs. 2.64 crore was transferred to her bank account by Chavan, which she had not disclosed,” an EOW official confirmed on Saturday.
Investment and Loss in Intra-Day Trading
The EOW further revealed that Ms. Karandikar had invested the entire amount in intra-day share trading but eventually suffered a substantial financial loss.
During her questioning by the EOW, Ms. Karandikar reportedly claimed that Mr. Chavan had managed her bank accounts during the period in question. However, this claim is now under verification as part of the ongoing probe.
DGP Office Asked for Income Declaration Details
As part of the investigation, the EOW has officially written to the office of the Director General of Police (DGP), seeking access to Ms. Karandikar’s annual income declaration for the year 2017–2018, a mandatory disclosure required from all government officers.
The inquiry aims to determine whether the officer intentionally withheld information or if there were lapses in oversight and reporting.
Husband Accused in Rs. 263 Crore IT Refund Scam
Mr. Purushottam Chavan, the officer’s estranged husband, is already under arrest by the EOW for allegedly cheating multiple individuals of nearly Rs. 32 crore. He had earlier been booked by the Enforcement Directorate (ED) in connection with an Income Tax refund fraud valued at Rs. 263 crore.
Official Silence from Civil Defence Department
There has been no formal statement yet from the Civil Defence and Home Guard Department regarding Ms. Karandikar’s current position or any possible departmental action. Sources indicate that administrative discussions are underway, and a report from the EOW may be awaited before any disciplinary steps are considered.
What Lies Ahead
The case has sparked wider conversations within administrative and law enforcement circles about financial integrity, spousal financial links, and the necessity for stricter scrutiny of officers’ asset declarations.
While the investigation continues, the spotlight remains on Ms. Karandikar’s financial disclosures and the extent of her involvement—or knowledge—of the alleged fraudulent activities tied to her estranged husband.
The EOW has not ruled out the possibility of further action depending on the findings from the DGP’s office and future interrogation records.
Also Read: ED Registers Money Laundering Case Against IPS Officer Rashmi Karandikar’s Husband – Know the Case
